Panax vietnamensis Ha et Grushv. is a high-value endemic ginseng species and a rich source of biologically active ginsenosides. However, low productivity and high susceptibility to phytopathogens limit supply relative to demand. Here, we evaluated the efficacy of bacterial strain VCCM 22715 against phytopathogenic fungi and assessed its effects on the growth of P. vietnamensis. Among 61 strains, VCCM 22715 showed the strongest activity against Rhizoctonia solani, inhibiting mycelial growth by 80.1 ± 5.7%. An ethyl acetate extract also inhibited R. solani (52.8 ± 5.3%), Magnaporthe oryzae (73.5 ± 0.3%), and Fusarium solani (52.8 ± 5.3%). Based on phenotypic characterization and molecular analyses, the strain was identified as Streptomyces albus VCCM 22715. Notably, the strain produced 24.3 ± 2.5 µg/mL indole-3-acetic acid (IAA) and significantly increased plant height, root length, fresh weight, and dry weight of P. vietnamensis (p < 0.05). Whole-genome analysis revealed an 8.0 Mb linear chromosome with 73% GC content, 6,796 protein-coding sequences, and 16 secondary metabolite biosynthetic gene clusters. Key genes implicated in IAA biosynthesis were also detected. Collectively, these results indicate that S. albus VCCM 22715 is a promising biocontrol and plant growth-promoting agent for field-cultivated ginseng.